DAO Maker is a name that has been making quite the headlines in recent times. It is one of the most successful crowdfunding platforms for blockchain projects.
?DAO Maker (not to be confused with Maker DAO) is the growth solutions provider and blockchain project launchpad behind some of this year’s most successful projects ? including Orion Protocol, My Neighbor Alice, LaunchX, and DAFI Protocol.
In this article, we’re going to be exploring the DAO Maker Token Economy, the services it offers, and an analysis of the recent hack on DAO Maker. Let’s get started!
An Introduction to DAO Maker
Table of Contents
- 1 An Introduction to DAO Maker
- 2 A Little History
- 3 DAO Maker Services
- 4 What Makes DAO Maker Unique?
- 5 The DAO Maker Hack ? Thursday, 12th of August
- 6 How Did The Hack Progress?
- 7 Final Thoughts
DAO Maker is a comprehensive suite of products shaped to cater to the growing needs of the crypto community and retail investors. The platform aims to be the go-to platform for retail venture investing and to improve the quality of millions of lives.
In a nutshell, DAO Maker is a growth technologies provider that creates SaaS solutions for nascent and growing crypto startups.
It has a flagship product named the DAO Pad, a multi-investment platform that allows DAO token holders to participate in early-stage token sales for stringently vetted upcoming projects.
Besides the popular DAO Pad product, DAO Maker also provides incubation services, operations and advisory services, and another of its flagship products ? social mining. Projects can use social mining to reward value-adding community members with their native token ? helping to raise awareness, incentivize participation, increase liquidity and grow the number of holders.
Let’s know more about the masterminds behind DAO Maker!
A Little History
DAO Maker is the brainchild of co-founders Christoph Zaknun, the platform’s CEO and an early mover in the initial coin offering (ICO) space, and Giorgio Marciano (CTO), a heavily experienced entrepreneur and IT engineer with over 13 years of experience in software development.
The two co-founders are joined by other C-level staff, notably Hassan Sheikh (CMO), a former lecturer in Mathematics and experienced business strategist.
Additonal Resource: What is DAO?
DAO Maker Services
To make a platform desirable as a funding outlet and a means of success to become the epicenter of retail venture capital, a platform must feature all the supportive resources and technology.
DAO Maker is a complete solution in the world of crowdfunding, blockchain marketing, and community development. It offers the following services:
Social Mining is DAO Maker’s flagship offering. It allows any tokenized project to set token-denominated incentives for community members who offer value to the ecosystem; token holders autonomously decide rewards and incentives.
This feature is further divided into three product options:
- Express ? which is available for small-cap tokens under a permissionless launch.
- Atlas ? It is available to permissioned tokens via a subscription-based framework.
- dTeams ? is a new vector of DAO Maker’s technology. It is available to early-stage equity-funded projects under a subscription-based, permissioned model.
Social Mining is expanding upon two key pathways. One focuses on permissionless support for tokenized startups and the other on permissioned access for equity startups.
Under the Marketing umbrella, we have:
- Influencer Marketing
- Guerrilla Marketing
- Paid Advertising.
The platform also works with top STEEM and Bitcointalk influencers to provide widespread exposure to its clients.
Strong communities deliver growth benefits and behave as a defense of the reputation of a project.
DAO Maker offers essential services like consistent and quality content, explainer videos, community management, narrative creation, and more to help blockchain-based platforms to build and expand their communities.
DAO Maker also offers advisory services to project teams. It includes an easy KYC/AML procedure for projects to comply with regulations and event management to offer exposure, sales, and networking.
The three aspects of token architecture are:
- Token Metrics
- Token Economy
- Token Monetary Policy
Besides, the platform has built a strong network of industry exchanges to help projects with listing strategies.
Ops and Advisory
Considering the vitality of tokenomics, DAO Maker has stepped into the realm to play a critical role in token adoption. The platform offers a complete token metric that includes the economy and monetary policy of the underlying token.
The organization does offer some top-notch services but what makes it unique is?
What Makes DAO Maker Unique?
Despite offering a full range of both B2B and B2C products, DAO Maker is best known for the DAO Pad and DAO Maker token (DAO). Some of the main distinguishing features that separate it from these platforms currently include:
Owing to years of experience, DAO Maker has been exposed to a diverse range of blockchain projects, with only the highest quality projects cutting.
DAO Maker focuses on ensuring each winning participant gets a relatively high allocation ? usually $500 to $1,000 per person. In many cases, these tokens are 100% unlocked at their token generation event (TGE), whereas others are partially vested over a defined period.
DAO Maker has made accessing early-stage investments a simple process by providing a single entry route via the DAO token, a fully verified account that has staked at least 500 DAO tokens will be eligible to enter the lottery to win a slot in their selected project.
The DAO token is one of the few launchpad tokens that is non-inflative. The total supply is capped at 312 million and this number will not be increased.
Moving on to why the DAO Maker was in the news recently.
The DAO Maker Hack ? Thursday, 12th of August
In the early hours of August 12th, DAO Maker faced malicious use of one of their wallets with access to admin privileges. Over 5,000 cryptocurrency accounts are reported to have been hacked in a large cyberattack costing around $7 million.
The hack was confirmed by DAO Maker CEO Christoph Zaknun in a statement, who said the situation had been ‘taken care of.?
How Did The Hack Progress?
- The hacker, after tentatively testing this exploit and managing to steal 10,000 USDC, then proceeded to quietly make 15 more transactions.
- In this manner, the hacker was able to siphon approximately $7M.
- The security team was able to trace, contain and stop the drain of funds.
- A total of 5251 users were affected, losing $1250 on average per user.
Users with up to $900 remained completely unaffected. The DAO Maker team decisively moved the unaffected funds to a brand-new secure wallet, where users are still able to withdraw their funds unimpeded, should they choose to do so.
DAO Maker is the first platform to enable retail investors to participate in global venture capital. Moreover, the platform offers a bundle of services to meet the increasing demands of DeFi projects.
Its native coin, DAO, runs the complete ecosystem of DAO Maker, which puts it under the category of essential assets to include in an investment portfolio.
As the blockchain world continues to disrupt the legacy industries, we will see the platform attracting more attention due to being a one-stop shop for all marketing, tokenomics, and community needs.
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